UBS Starts HP Inc. (HPQ) at Neutral

UBS initiates coverage on HP Inc. (NYSE: HPQ) with a Neutral rating and a price target of $15.00.

Analyst Steven Milunovich commented, "We initiate on HP Inc with a Neutral rating and $15 price target. Although we find the valuation and dividend yield somewhat attractive, we think the business fundamentals are likely to get worse before they get better. We expect the printing margin to come under pressure and PC sales to decline albeit at a more modest rate. Our non GAAP EPS estimate of $1.65 for F16 is below the company's guidance. We are more optimistic about longer-term efforts, including encroaching on the copier market and becoming the leader in 3D printing."

For an analyst ratings summary and ratings history on HP Inc. click here. For more ratings news on HP Inc. click here.

Shares of HP Inc. closed at $14.29 yesterday.

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